Mr. Mohit Kakkad charts ambitious growth plans for Tech-enabled NBFC including insurance broking, digital/mobile personal and business loans
MUMBAI, 22 October 2020 (TGN): V. N. Finance, the tech-enabled NBFC, opened its new branch office in Kalamboli (Navi Mumbai) for giving secured and unsecured loans as well as gold loans to address the financial services needs of the mid-bottom of the pyramid. By expanding its network, V. N. Finance is getting closer to its target customers comprising MSMEs, entrepreneurs, self-employed professionals, small businessmen and women, start-ups, contract/ migrant workers, financially challenged, etc., and get them financially included. The new branch is located at Shree Apartments, Shop No. 17/18, Plot No 05, Sector 1, Kalamboli.
Mr. Mohit Kakkad, Founder-MD, V. N. Finance, says, “We have grown exponentially in the last two years and now it’s time to expand our network to get closer to our customers. We have a unique asset light-business model. We leverage technology to develop proprietary credit evaluation algorithms, which enable us to serve our target segment quickly with the right balance of managing risks.” He adds, “Our next frontier is insurance broking. We shall soon unveil other loan related services by leveraging technology and digital tech. Of course, AUM will increase by multi-fold in the gold and personal loan segments.”
“We are transforming the financial sector by reaching hitherto unbanked section of society. Currently we are targeting business and personal finance. Our unique value proposition for our target segments --- who are less educated/ have less access in/ to financial services --- is to provide comfort to the client and quick decision,” says Mr. Vijay Kakkad, Chairman, V. N. Finance, “We have made our processes so customer friendly that even the uneducated customers can navigate through our system with utmost ease. Moreover, we are extremely fast in credit assessment and disbursal. More than 90% cases take less than 24 hours for final decision and disbursement.”
Mr. Vijay Kakkad, the key guiding force of the Company, is a sharp entrepreneur with unparalleled business acumen. He has more than 30 years of experience of running different businesses. Mr. Mohit Kakkad is a young dynamic entrepreneur with a vision to reach out to every person, who is not able to fulfil his/her dreams for lack of finance. He appreciates the power of technology and is an avid learner with a number of successful businesses under his belt. V. N. Finance seeks to deploy best-in-class cutting-edge technology and digital solutions to keep up with its mission of providing the best-possible customer experience and lightning fast decision making in loan appraisal and disbursal processes. It has created benchmarks for the processes, which are monitored religiously and constantly upgraded to the next level.
V. N. Finance recently announced Gold Loan to help people unlock their dreams instantly from anywhere anytime. It helps them to get the best and highest (possible) loan to value (LTV) ratio on a 24X7 basis and to sail through their urgent financial needs smoothly within a short period of time. Those people, who need unsecured loans and have no security or no existing assets, can directly (or through intermediaries) approach V. N. Finance and share their creditworthiness and repayment capacity. They will get the funds at the best of terms to achieve their dreams. V. N. Finance offers pre-payment option-without any penalty; optimal documentation; shorter response time; and safe custody for family jewels and gold jewellery. Just call 022-20877888…
VN Finance also offers secured loans such as Loan Against Property (LAP) and Loans against Inventories. V. N. Finance's professional team fully understands business needs and provides funding against the goods and inventories already lying in the shops/godown. The small business owner just needs to furnish the inventory list, its value and their needs. It is also taking its social responsibility seriously with an initiative to help NGOs and self-help groups in assisting migrant labour and other poor & needy. It recognised that every customer’s needs are different with different context --- so 'one-size fits all' approach doesn’t apply.
V. N. Finance Pvt. Ltd. (VNF) is an innovative financial company Incorporated in March 2019 as a Non-Deposit taking NBFC (ND). The company is founded by 31-year old Mohit Kakkad with a vision to use technology to provide finance to hitherto unbanked section of society. The Company is mainly engaged is providing the small and medium size ticket loans on secured and unsecured basis. Unsecured loans are being provided based on creditworthiness and repayment capacity of the borrowers. The senior management of the company consists of senior leaders from banking industry and mentored by some of the highly qualified professionals. V. N. Finance has put in place an interest rate policy, adopted by the Board, taking into account relevant factors such as, cost of funds, margin and risk premium, etc and determine the rate of interest to be charged for loans. It has a robust KYV Policy, Fair Practices Code and Corporate Governance Policy. Mr. Vijay Kakkad (Chairman) and Mr. Mohit Kakkad (MD) of V. N. Finance Pvt. Ltd. have been honoured with the prestigious Economic Times (ET) Industry Leaders West Award 2020 --- V. N. Finance has been recognised by ET as Emerging Firm in Tech-Enabled NBFC category. ENDS
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